Warning~financial crisis in Iraq's parliament will continue for 3 yrs because of oil

Warning: the financial crisis in Iraq's parliament will continue for 3 years because of oil

09/16/2015 14:57 pm (Baghdad time)

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He stressed the parliamentary finance committee member Ahmed Sarhan Sarhan, Wednesday, on the need to open an investigation and to hold accountable those who stole the money of the Iraqi public, stressing that the financial crisis will last three years with the continuing decline in oil prices.

He said Sirhan's / scales News / "The financial crisis will continue in Iraq if oil prices continue on their current status decline, attributing the cause because the Iraqi economy depends only on oil revenues, and there is no other source to adjust the Iraqi budget with money only oil revenues," he said, adding that he " if it continues to deteriorate to this extent will face a financial crisis may last for three years to come to that oil prices return to rise. "

He said the parliamentary finance committee member, said "the Iraqi government over a 13-year-old has not taken serious steps and a clear strategy to build the Iraqi economy, which only on oil revenue depends and that's what led to what we are now," stressing that "the financial crisis reflected on services and investment and operational projects Eradadt because this is not sufficient at the present time to meet all the requirements of the Iraqi people. "

He said Sarhan said "the cause of the deterioration of the Iraqi economy is the existence of a large corruption in the Iraqi government departments as a result of mismanagement of public funds is very large and the lack of effective financial control for control of this crisis," he said. "There are corrupt and money stolen in a large and Iraq must return this money. "

It is said that "economic expert Abdul Hassan Shammari predicted, on Tuesday, oil prices drop to a larger proportion in 2016", adding that "the low salaries of the three presidencies is not enough to cover the deficit in the Iraqi budget."

The "Member of the Committee of Economy and Investment parliamentary Najiba Najib revealed, yesterday Monday, for determining the price of a barrel of oil in the fiscal budget for next year in 2016 to $ 45," while the "confirmed that the reason for delaying the arrival of the budget to the parliament goes back to the" .anthy 29 technical fault / 4 H